Sachem Capital Prices $23 Mln Debt Offering

Sachem Capital Corp. (SACH) said Friday that it priced $23 million of 7.125% unsecured unsubordinated notes.

Ladenburg Thalmann & Co. and Janney Montgomery Scott were the offering's joint book-running managers. The underwriters have a 30-day option to buy up to an additional $3.45 million aggregate principal amount of notes.

Net proceeds are estimated at $21.7 million. The offering is expected to close June 25.